BestBuy Will Guarantee Users $100 for Used Xbox 360 or PS3

Best Buy will give every user who trades in their Xbox 360 or PS3 a gift card worth at least $100.

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The trade-in deal surfaced on the company’s website this past week, and is terrific news for any user who is considering upgrading to the PS4 or Xbox One this holiday season. That’s because, trade-in values for older versions of each console are significantly lower than what Best Buy is offering here.

For example, users who traded in an Xbox 360 with 20GB of storage would receive a gift card worth just $10 normally. Users would normally net just $40 for trading-in an original 80GB PS3 to Best Buy. This deal is great for users who are looking to finance their upgrade to Microsoft and Sony’s latest consoles. Even users who’ve had their console pre-order paid off for some time could benefit from the extra credit for accessories. The PS4 and Xbox One both require controllers and other accessories that can’t be reused from their predecessors.

There are a few details that users looking to trade their consoles in should be aware of. For starters, the deal is only valid until Saturday, November 23rd. After that date, Xbox 360 and PS3 trade-in values will return to their normal price. Best Buy is also adamant about users bringing in a console that meets its criteria. The Xbox 360 or PS3 in question will need to at least power on and users will need each console’s power adapter, one controller and included hard drive. Best Buy will turn on each device to ensure that it’s working. Any console with cracks or broken factory seals won’t be eligible for trade-in credit.

Finally, this isn’t a cash deal. Best Buy is only giving users a Best Buy gift card for their trade-in. As such, users can’t simply spend that $100 anywhere they choose.

All told, this isn’t an entirely bad deal for users upgrading in the near future. In fact, it’s not a bad deal for users looking to get rid of an extra console even if they aren’t upgrading. It’s likely that the Xbox 360 and PS3’s trade-in value will only diminish as more and more users prepare to upgrade to the latest systems. If that hypothesis is true, users can’t expect to get more value from trading in their console and accessories than they can today.